LendingClub Co. (NYSE:LC) Stake Boosted by Nuveen Asset Management LLC

Nuveen Asset Management LLC increased its position in shares of LendingClub Co. (NYSE:LC - Free Report) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,839,360 shares of the credit services provider's stock after purchasing an additional 49,996 shares during the quarter. Nuveen Asset Management LLC owned 1.64% of LendingClub worth $29,779,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LC. Comerica Bank bought a new position in LendingClub in the fourth quarter worth about $37,000. SBI Securities Co. Ltd. bought a new position in LendingClub in the fourth quarter worth about $45,000. Sterling Capital Management LLC lifted its holdings in LendingClub by 818.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,500 shares of the credit services provider's stock worth $57,000 after acquiring an additional 3,119 shares during the last quarter. National Bank of Canada FI lifted its holdings in LendingClub by 150.6% in the fourth quarter. National Bank of Canada FI now owns 4,074 shares of the credit services provider's stock worth $66,000 after acquiring an additional 2,448 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in LendingClub by 49.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,986 shares of the credit services provider's stock worth $97,000 after acquiring an additional 1,975 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Piper Sandler reiterated an "overweight" rating and issued a $19.00 target price (down from $20.00) on shares of LendingClub in a research note on Wednesday, January 29th. StockNews.com cut LendingClub from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods cut their target price on LendingClub from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their target price on LendingClub from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, LendingClub currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.75.

Insider Buying and Selling

In other LendingClub news, Director Michael P. Zeisser purchased 20,000 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were purchased at an average cost of $9.35 per share, for a total transaction of $187,000.00. Following the completion of the transaction, the director now owns 174,138 shares in the company, valued at $1,628,190.30. The trade was a 12.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Sanborn sold 5,250 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $10.00, for a total value of $52,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,303,032 shares in the company, valued at $13,030,320. This represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,000 shares of company stock valued at $215,198 over the last quarter. Corporate insiders own 3.19% of the company's stock.

LendingClub Stock Down 4.3%

Shares of NYSE LC opened at $9.91 on Thursday. LendingClub Co. has a fifty-two week low of $7.81 and a fifty-two week high of $18.75. The firm's 50-day simple moving average is $10.24 and its 200 day simple moving average is $13.31. The stock has a market cap of $1.13 billion, a P/E ratio of 22.01 and a beta of 2.35.

LendingClub (NYSE:LC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $0.10 earnings per share for the quarter, meeting analysts' consensus estimates of $0.10. LendingClub had a net margin of 6.52% and a return on equity of 4.16%. The business had revenue of $217.71 million for the quarter, compared to analysts' expectations of $213.71 million. During the same period in the previous year, the business earned $0.11 earnings per share. The company's revenue was up 21670.0% on a year-over-year basis. On average, sell-side analysts anticipate that LendingClub Co. will post 0.72 earnings per share for the current fiscal year.

LendingClub Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.

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